Truckmakers spruik opportunity in virus stimulus incentives

A number of truckmakers in Australia see Covid-19 economic stimulus measures as giving impetus to strategic business investments in new equipment.

One of those is Isuzu, which points to the instant asset write-off (IAWO) threshold increase as a critical measure Australian businesses can take advantage of, especially those reliant on capital equipment, alongside the Backing Business Investment accelerated depreciation schedules, support for the flow of credit and the many programs focused on individuals and families.

"As this unprecedented health and economic crisis continues to unfold and disrupt, we’re encouraged to see the federal government take the necessary action to help Australian businesses survive," Isuzu Australia Limited (IAL) director Andrew Harbison says.

"The IAWO measures are of particular note as they allow businesses to immediately write-off multiple asset purchases, realise significant tax deductions and provide cash-flow benefits in the process.

"This assistance presents clear economic benefit for a range of businesses, but also helps to meet the increased demand on the road transport and logistics sectors right now."

"It’s this foundational public support and the confidence-building measures that allow individual businesses to also take the required steps and to continue to invest, and slowly we can build the much-needed critical mass," he says.

"We hear a lot about being ‘in this together’ in relation to the COVID crisis, and the same is true in an industry-specific sense.

"If we’re cognisant of the benefits of closing ranks around our sector and taking full advantage of the measures on offer, we stand the best chance possible to recover, and recover well."

"We [Isuzu] have a specific role as a capital equipment OEM; we remain committed to ensuring our customers have every support they need during this difficult time, and we’ll continue to do so.

"Notably, Isuzu Trucks wants to thank every Australian continuing to work in the freight and road transport sector during this crisis."

Meanwhile, Iveco sees the countdown to the end of financial year as "always being a great time for buyers of commercial vehicles to land an attractive deal, as manufacturers look to clear stock holdings", and the stimulus efforts provide even more impetus for prospective buyers.

Its response, until the end of June or while stocks last, is "sharp pricing and extra value across selected Daily, Eurocargo and Australian-manufactured Stralis AD/AT models".

"In light of recent events, we’ve seen the importance of the road transport sector and the fantastic work the industry is doing to keep Australia moving," Iveco Australia marketing manager Damon Paull says.

"Demand for commercial vehicles continues to be steady at this time, and we trust that the additional incentives that IVECO is offering until the end of June, makes putting one of our vehicles to work an even more appealing proposition."